Challenge: Sustaining Growth and Facilitating Expansion

eZhire is a leading car rental service operating across the GCC. They have seen consistent growth but faced a roadblock when it came to working capital. With growth came the need to sustain enough funding to enable and support their expansion.

Solution: Strategic Financing Partnership with erad

In their quest for sustainable growth, eZhire found a trusted partner in erad’s commitment to empowering businesses. Recognizing the innovative approach of eZhire in the car rental industry, erad stepped in with tailored financial solutions perfectly suited to address the specific requirements of eZhire. By offering flexible working capital solutions, erad enabled eZhire to pursue their growth objectives without being hindered by the constraints often associated with traditional financing options. For Oliver Williamson, COO, erad's appeal lay in its efficient and fast-paced approach to financing, aligning perfectly with eZhire’s ambitions for growth. With erad's support, eZhire could confidently pursue their expansion plans, knowing they had the financial backing to navigate challenges and seize opportunities.

Result: Driving Expansion and Operational Efficiency

Through a collaborative effort with erad, eZhire successfully secured a total of AED 1.8 million in loans within just nine months. These funds were strategically allocated to support eZhire's day-to-day operations and facilitate their expansion plans. erad's support played a role in enabling eZhire to execute their roadmap for expansion into the lucrative Saudi Arabian market, ensuring access to essential inventory and operational resources. By leveraging erad's agile and responsive financing solutions, eZhire sidestepped the bureaucratic hurdles often associated with conventional banking channels, enabling them to stay focused on their core objectives of growth and innovation while safeguarding equity and avoiding dilution.

“erad is helping us with the working capital needed with the growth into Saudi Arabia” - Oliver Williamson, COO at eZhire.

Looking ahead, eZhire remains steadfast in their commitment to sustained growth and market expansion. With a strategic focus on consolidating their foothold in established markets like the UAE and ramping up operations in promising markets such as Saudi Arabia, eZhire is poised for accelerated growth.